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Week #3 Learning Activity - Essay Example

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One of the barriers in the marketplace that small businesses face is the barrier to competing with the marketing strategies of large competitors. Small businesses do not have access to the same human resources,…
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Week #3 Learning Activity
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June 4, The Barrier of Marketing Strategies due to International Competition Small businesses compete with both small and large businesses. One of the barriers in the marketplace that small businesses face is the barrier to competing with the marketing strategies of large competitors. Small businesses do not have access to the same human resources, capital, networks, and established brands as large firms, especially multinational companies, so they have to resort to more affordable marketing strategies.
Large businesses have advantages over small firms that strengthen their marketing strategies, although small businesses can still use more economical marketing strategies to compete in the marketplace. Large companies can tap an international labor force who can offer distinct local knowledge, competencies, and networks, and any other form of local and national advantages (Cullen and Parboteeah 265). Large companies also have recognized worldwide brands that do not need much marketing push. As a result, small businesses have to rely on firsthand research or secondary researches that are free, but not comprehensive or intensive, to design simple marketing strategies that they can afford. Small businesses have to invest on marketing strategies or tactics to improve brand awareness and brand loyalty for their businesses. Owners usually act as researchers too, in order to save money, while ensuring competitiveness: “The better a small business understands its customers, the better off it will be” (Chapter 6: Marketing Basics 21). The trend of the barrier is getting more intense in time as large companies merge or acquire other smaller companies (Cullen and Parboteeah 265). Internationalization is a strategic move that many large companies are taking advantage of which improves their brand equity across international markets (Cullen and Parboteeah 265). Small businesses do not need to match the marketing strategies and expenses of their large competitors, but scale down marketing research to fit the marketing mix that they can meet the expense of (Chapter 6: Marketing Basics 11). This way, small businesses can understand their strengths and use them to optimize market opportunities and to reduce market threats, especially competition from large firms.
Works Cited
Chapter 6: Marketing Basics. Class Lecture.
Cullen, John B., and K. Praveen Parboteeah. Multinational Management: A Strategic Approach. Cincinnati, Ohio: South-Western College Publication, 2013. Print. Read More
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